NLCIL Incorporates New Wholly-Owned Subsidiary NLC India Green Energy Limited

by Psu Connect
Date: 16-10-23

Already, NLCIL has incorporated a wholly-owned subsidiary NLC India Renewables Limited for Asset monetisation.

NLCIL Incorporates New Wholly-Owned Subsidiary NLC India Green Energy Limited

Chennai, 16, October 2023: NLC India Limited, a Navratna Central Public Sector Undertaking headquartered at Neyveli, Tamilnadu, incorporated a new wholly-owned Subsidiary “NLC India Green Energy Limited” (NIGEL).

Currently, projects to the tune of 2 GW of Renewable Energy are under implementation and will be taken up by NIGEL, including 600 MW solar power project in Gujarat and 810 MW Solar Photovoltaic Power Project in Rajasthan. Already, NLCIL has incorporated a wholly-owned subsidiary NLC India Renewables Limited for Asset monetisation.

On the occasion, Shri. Prasanna Kumar Motupalli, Chairman and Managing Director, NLCIL said, “The newly-incorporated company will take care of planning, participating in upcoming RE tenders, tendering, execution and commissioning of Renewable projects.”

“The subsidiary is expected to achieve 5 GW capacity by 2030 and contribute for carbon emission reduction,” he also added.

The Company’s registered office is situated at Chennai and it will commence its business operations in due course.